 "Recipharm buys 74% stake in Nitin Lifesciences for Rs 671 crore")
Rusan Pharma, which specialises in de-addiction and pain management products, is investing Rs 100 crore in a research and development centre and a manufacturing unit in Kandla. A clinical research organisation too is being set up as a part of its expansion plan.
Rusan Pharma said with the fresh investment, it will focus on research and manufacture of de-addiction and pain management drugs for domestic market and export and aims to double turnover to Rs 600 crore by 2018.
The company plans to manufacture transdermal patches at Kandla. Rusan Pharma exports products to Europe, Russia, South Africa, South East Asia and plans to expand exports to the US and Canada.
Navin Saxena, chairperson and founder of Rusan Pharma also announced a $20 million deal with the Brazilian government for its programme on smoking cessation.
